Equatorial Guinea

The discovery and exploitation of large oil reserves have contributed to dramatic economic growth but fluctuating oil prices have produced huge swings in GDP growth in recent years. Forestry, farming, and fishing are also major components of GDP. Subsistence farming is the dominate form of livelihood. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the neglect of the rural economy under successive regimes has diminished potential for agriculture-led growth (the government has stated its intention to reinvest some oil revenue into agriculture). A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of corruption and mismanagement. Government officials and their family members own most businesses, but corruption is rampant. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth remained strong in 2008, led by oil, but dropped in 2009-10, as the price of oil fell.

$24.66 billion (2010 est.)

$24.18 billion (2009 est.)

$22.96 billion (2008 est.)

$14.55 billion (2010 est.)

2% (2010 est.)

5.3% (2009 est.)

11.3% (2008 est.)

$37,900 (2010 est.)

$38,200 (2009 est.)

$37,200 (2008 est.)

195,200 NA (2007)

30% (1998 est.)

NA%

29.1% of GDP (2010 est.)

4.1% of GDP (2010 est.)

5.4% of GDP (2009 est.)

8.2% (2010 est.)

7.1% (2009 est.)

4.25% (31 December 2009)

4.75% (31 December 2008)

NA% (31 December 2009 est.)

NA% (31 December 2008 est.)

$1.86 billion (31 December 2010 est)

$1.295 billion (31 December 2009 est)

$2.207 billion (31 December 2010 est.)

$1.473 billion (31 December 2009 est.)

$1.534 billion (31 December 2009)

$3.579 billion (31 December 2008)

coffee, cocoa, rice, yams, cassava (tapioca), bananas, palm oil nuts; livestock; timber

petroleum, fishing, sawmilling, natural gas

1.8% (2010 est.)

28 million kWh (2007 est.)

26.04 million kWh (2007 est.)

0 kWh (2008 est.)

0 kWh (2008 est.)

346,000 bbl/day (2009 est.)

1,000 bbl/day (2009 est.)

362,900 bbl/day (2007 est.)

1,114 bbl/day (2007 est.)

1.1 billion bbl (1 January 2010 est.)

6.67 billion cu m (2008 est.)

1.5 billion cu m (2008 est.)

5.17 billion cu m (2008 est.)

0 cu m (2008 est.)

36.81 billion cu m (1 January 2010 est.)

-$1.477 billion (2010 est.)

-$1.883 billion (2009 est.)

$10.24 billion (2010 est.)

$8.495 billion (2009 est.)

petroleum, methanol, timber, cocoa

US 30.31%, China 12.54%, Japan 9.21%, Spain 7.5%, South Korea 7.01%, Taiwan 5.63%, Italy 5.38%, Netherlands 4.09% (2009)

$5.743 billion (2010 est.)

$5.258 billion (2009 est.)

petroleum sector equipment, other equipment

China 19.97%, US 17.28%, Spain 14.94%, France 9.49%, Cote d’Ivoire 6.34%, Italy 5.02% (2009)

$4.086 billion (31 December 2010 est.)

$3.252 billion (31 December 2009 est.)

$832 million (31 December 2010 est.)

$766 million (31 December 2009 est.)

Cooperation Financiere en Afrique Centrale francs per US dollar - 506.04 (2010), 472.19 (2009), 447.81 (2008), 481.83 (2007), 522.4 (2006)